About 90% industrial enterprises will adapt a still evolving technology, and edge computing by 2022, according to Frost & Sullivan.
Edge Computing means running fewer processes in the cloud, and moving those processes to local places like a user’s computer, an IoT device, or an edge server. It focusses on bringing computing as close to the source of the data as possible to reduce latency and bandwidth use.
Frost & Sullivan's recent analysis on 5G and Edge Computing finds edge computing as a foundational technology for industrial enterprises as it offers shorter latencies, robust security, responsive data collection, and lower costs.
The research firm said that edge computing can be used across various applications, such as autonomous assets, remote asset monitoring, data extraction from stranded assets, autonomous robotics and vehicles, and smart factories.
The recent launch of the 5G technology coupled with multi-access edge computing brings computing power close to customers and allows to bring new applications and experiences for them, said Renato Pasquini, Research Director, Information & Communication Technologies at Frost & Sullivan.
The combination of 5G and the edge computing technologies can meet the market's streaming media needs now and in the future.
Companies looking to bring in innovation and new developments can utilize 5G and edge computing in augmented reality (AR) and virtual reality (VR), which can also be applied to games.
Telecom operators can use edge computing to work on solutions and services to meet the requirements for connected and autonomous cars.
“Bringing computation to the network’s edge minimizes the amount of long-distance communication that has to happen between a client and server,” said Cloudfare.
Frost & Sullivan expects the MEC market to grow at an annual growth rate of 157%, generating a revenue of $7.23billion by 2024 from $64.1 million in 2019.
